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Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
legal business 1. In French-law-based systems, refers to the legal operation, activity, or fact embodied or memorialized by a legal instrument (as opposed to the instrument itself, known as an instrumentum); 2. In German-law-based systems, refers to a transactional act, the main sub-type of legal acts. See also actus iuridicus. non bis in idem
The term "reservation of rights" (particularly a "reservation of rights letter”) is often used in connection with insurance claims. The insurance company issues a reservation of rights letter stating that it may deny coverage for some or all of the claim even while the company is investigating the claim or beginning to treat the claim as if ...
Medigap is an additional insurance option that can help you cover your out-of-pocket Medicare costs. ... Medicare’s open enrollment vs. guaranteed issue. Under federal law, you have a 6-month ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
In contract law, force majeure [1] [2] [3] (/ ˌ f ɔːr s m ə ˈ ʒ ɜːr / FORSS mə-ZHUR; French: [fɔʁs maʒœʁ]) is a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, epidemic, or ...
Financial law is the law and regulation of the commercial banking, capital markets, insurance, derivatives and investment management sectors. [1] Understanding financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally.
Coverage type. What it covers. Liability. This coverage steps in if you or a listed driver on your policy causes property damage and/or injuries to another person caused by an accident in which ...